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Surface Transforms (AIM:SCE FOLLOW) shares rose 79.59% to 43p with “game-changing” deal
The manufacturer was selected this morning as a tier-one supplier of a carbon ceramic brake disc on a car made by an unnamed automotive original equipment manufacturer
The contract will begin in summer next year and is estimated to be worth £27.5m. The contract currently covers series production to 2024 but may potentially be extended.
“This, truly game changing, award builds upon the recent trend of significant contract wins with mainstream automotive manufacturers,” said Kevin Johnson, CEO of the company.
The Board said it anticipates current FY20 revenues to be around £0.4m higher than market expectations with group revenue for the year expected to increase to around £2.0m.
The Company said it expects to sign further contract awards over the next six months.
According to a research note by Zeus Capital, Surface Transforms is “well positioned to deliver for the medium-term” as a business.
Twitter: Surface Transforms
Symphony Environmental (AIM:SYM FOLLOW) shares rose 22.22% to 27.5p after positive results
The group reported positive results from a test of its d2p antimicrobial technology masterbatch against a bovine form of COVID-19 which found a virus reduction of 99.84%.
The Institute of …
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